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WHY INTEREST RATES WILL STAY UNCHANGED

May 29th, 2019
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Announcement - May 29, 2019

The Bank of Canada left its target for the overnight rate unchanged at 1.75 per cent this morning. In the statement accompanying the decision, the Bank noted that the slowdown over the past two quarters was temporary and growth should pick up beginning in the second quarter of 2019. On inflation, the Bank expects that ...

BANK RATE UNCHANGED

April 24th, 2019
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Announcement - April 24, 2019

The Bank of Canada left its target for the overnight rate unchanged at 1.75 per cent this morning. In the statement accompanying the decision, the Bank noted that ongoing uncertainty related to global trade conflicts is undermining business sentiment and contributing to a slowdown in growth across many countries. Tha ...

Fall In Mortgage Rate On The Horizon?

February 27th, 2019
Canadian Inflation - February 27, 2019

Canadian inflation, as measured by the Consumer Price Index (CPI), registered only 1.4 per cent in the twelve months to January. That was a significant drop from 2 per cent in December due to a 7 per cent decline in energy costs.  Excluding the impact of falling gasoline prices, consumer prices were up 2.1 per cent. The Bank of Canada's three measures of ...

LOWER MORTGAGE RATES EXPECTED, BUOYING REAL ESTATE MARKET

January 18th, 2019
BCREA ECONOMICS NOW

Canadian Inflation - January 18, 2019

Canadian inflation, as measured by the Consumer Price Index (CPI), registered 2 per cent in the twelve months to December, a slight uptick from 1.7 per cent in November. Lower energy prices were offset by an increase in air transportation, and telephone services.  Excluding the impact of falling gasoline prices, consumer prices were up 2 ...

MORTGAGE RATES RELATIVELY STEADY IN 2019

December 13th, 2018

BANK OF CANADA RATE UP

October 24th, 2018
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Announcement - October 24, 2018

The Bank of Canada raised its target for the overnight rate by 25 basis points to 1.75 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is expected to average growth of 2 per cent over the second half of 2018 before slowing to 1.9 per cent next year.  The r ...

EXPECT B of C RATE HIKE OCT 24

October 19th, 2018
BCREA ECONOMICS NOW

Canadian Retail Sales and Inflation - October 19, 2018

Canadian retail sales declined 0.1 per cent on a monthly basis in August, but were 3.6 per cent higher on a year-over-year basis. Retail sales were lower in 7 of 11 sub-sectors representing 52 per cent of total retail trade. After a spending binge in 2017 which saw retail sales grow nearly ten per cent,  BC consumers hav ...

BANK RATE PRESSURE ONGOING

September 28th, 2018
BCREA ECONOMICS NOW

Canadian Monthly GDP Growth (July 2018) - September 28, 2018

The Canadian economy expanded at a 0.2 per cent monthly rate in July after recording no change in June. Growth was fairly broad based with 12 of 20 industrial sectors reporting higher output, led by gains in manufacturing, wholesale trade and the recovery of real estate transactions after the introduction of the B2 ...

HOW IMPACTFUL ON BC ARE FED MORTGAGE STRESS TESTS?

September 13th, 2018

August Home Sales Suggest Impact of Stress Test Fading

Vancouver, BC – September 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in August, a 26.4 per cent decrease from the same month last year. The average MLS® residential price in BC was $669,77 ...

B of C HOLDS STEADY ON INTEREST RATE

September 5th, 2018
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Announcement - September 5, 2018

The Bank of Canada maintained its target for the overnight rate at 1.50 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is evolving in line with its projections and that real GDP growth is expected to slow in the third quarter due to fluctuations in energ ...
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